Ladbrokes Australia Appoints New Chief Executive

Ladbrokes Australia has announced that their current chief executive, Dean Shannon, will step down in February 2017 and Paul Cherry will take his place.

Shannon, who founded Bookmaker.com.au which was acquired by Ladbrokes in September 2013 making him CEO of the Australian branch of the company, has said he will be leaving the business for personal reasons. However, he will maintain an advisory position to ensure Mr Cherry has a smooth transition.

Cherry has been serving as chief operating officer at Ladbrokes Australia since the same month as Shannon became chief executive. He has been responsible for technology innovation and product development and has been particularly successful with industry firsts such as the Ladbrokes Card and Cash In payment services, as well as the migration of Betstar to Ladbrokes.

“We always knew the day would come when Dean would want to step down,” commented Jim Mullen, chief executive of Ladbrokes. “He has been instrumental to the success of Ladbrokes in Australia. He has established a challenger brand and won customers through innovation. His success can be seen in the customer metrics and in the fact we are now the number three recognised brand from a standing start just three years ago.”

“Paul Cherry has been core to Ladbrokes success and has been a key part of the management team since we acquired the business. We are proud of what has been achieved in Australia and are confident in the ability of the team to take the business forward to the next stage of growth and strategic development.”

Ladbrokes Australia experienced a 42 percent increase in net revenue of AUD69.9 million in the first half of 2016 and Shannon stated that he is proud of what the company has achieved during his time at the helm.